Surmodics Announces Appointment of Timothy J. Arens as Chief Financial Officer

EDEN PRAIRIE, Minn.–(BUSINESS WIRE)–Surmodics, Inc. (NASDAQ: SRDX), a leading provider of medical device and
in vitro diagnostic technologies to the healthcare industry, today
announced the appointment of Timothy J. Arens, Vice President of
Corporate Development and Strategy, as the company’s new Chief Financial
Officer (CFO), effective immediately.

Arens was named interim CFO in May 2018 following the departure of
Andrew LaFrence. Arens’ corporate development and strategy
responsibilities will be absorbed into his CFO role.

“Tim has been an impressive partner to me and an invaluable contributor
to our management team and Surmodics’ success during the past eight
years. I am personally delighted that he has been formally appointed to
the role,” said Gary Maharaj, President and Chief Executive Officer
of Surmodics. “Tim’s excellent financial, operational and strategic
skills and strong leadership are ideally suited to his new role as we
continue to drive our strategic initiatives and financial goals of
consistent and profitable long-term growth.”

Arens has served in his current role since February 2013. He joined
Surmodics in February 2007 as Director, Business Development, was named
Senior Director and General Manager of the in vitro diagnostics business
unit in October 2010 and served as Vice President of Finance and interim
CFO from August 2011 to February 2013.

“I am excited to work with a group of dedicated and talented colleagues
to accelerate our strategic transformation while continuing to deliver
on our operating commitments,” said Arens. “Surmodics is well-positioned
to execute on our strategic initiatives including the development of
highly innovative products that benefit patients. I am looking forward
to being part of that journey.”

About Surmodics, Inc.

Surmodics is the global leader in surface modification technologies for
intravascular medical devices and a leading provider of chemical
components for in vitro diagnostic immunoassay tests and
microarrays. Surmodics is pursuing highly differentiated whole-product
solutions that are designed to address unmet clinical needs for its
medical device customers and engineered to the most demanding
requirements. This key growth strategy leverages the combination of the
Company’s expertise in proprietary surface technologies, along with
enhanced device design, development and manufacturing capabilities. The
Company mission remains to improve the detection and treatment of
disease. Surmodics is headquartered in Eden Prairie, Minnesota. For more
information, visit www.surmodics.com.
The content of Surmodics’ website is not part of this press release or
part of any filings that the company makes with the SEC.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements. Statements that
are not historical or current facts are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and
important factors could cause actual results to differ materially from
those anticipated, including the factors identified under “Risk Factors”
in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year
ended September 30, 2018, and updated in our subsequent reports filed
with the SEC. These reports are available in the Investors section of
our website at www.surmodics.com and
at the SEC website at www.sec.gov.
Forward-looking statements speak only as of the date they are made, and
we undertake no obligation to update them in light of new information or
future events.

Contacts

Surmodics, Inc.
Tim Arens, 952-500-7000
[email protected]

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